“ Do not save what is left after spending, but spend what is left after saving. ” – Warren Buffett
Wouldn’t it be a dream come true to have a million bucks rather than to just feel like a million bucks? Well, my friend…here’s the harsh reality for all of us. If you’re particularly a person who just loves to go on a shopping spree, that dream ain’t coming true! But let's be real guys, we’re not only referring to shopaholics around here.
The idea of making big bucks is never a bad one. Often, it is the intentions and strategies behind the idea that makes one a successful millionaire or that gets us bankrupt. So, that brings us to the core of making millions…we should never ever...EVER be careless with our money.
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Millennials, millennials…that’s right we’re calling out to you! Your eyes are exposed to all the attractive things you see in the world. Well, duhhhh!…and you know what that means, right? Everything is cha-ching!!!
The world comes up with something new every day and it could even be several new things in a go. From the latest gadgets, fashion, cars, foods, supplements, cosmetics, and the list just goes on and on and on! Let’s just agree that we’ve created a culture where people feel the need to always obtain and stay in touch with the latest trends and technology.
On top of that, we’ve got online shopping which is accompanied by rebates, cashbacks, discounts, contests and our absolute favourite….SALE! It was invented for our convenience and comfort. Some of you may say, “What’s the point here? It seems like a variety of options so that everyone could experience an easy yet comfortable life by fulfilling their needs and wants.”
That’s absolutely true!
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Here’s the catch…count it almost impossible to not be tempted by easy access to all the things you could buy. So, what can be done about this? Just as how we Malaysians love a good bargain, you can find out your best bargain in sustaining your finances.
First things first…if you have money to spare, DON’T SPEND it unless it’s urgently needed.
The one that everyone was learning during the early days of the MCO period is financial management. In fact, we are told to only prioritize our basic necessities. This was a great opportunity for everyone to save what is spared. On the other hand, some people saw it as an opportunity for making more purchases. Is that a good thing or bad thing? If you’re one of them, weigh the pros and cons that affect you and you’ll find out.
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“ Never spend your money before you have earned it. ” - Thomas Jefferson
In Malaysia, we tend to have this habit… “Ehh, you pay first can ah, then I pay you back later.” It’s only logical that you spend money when you have money, right? But due to the vast opportunities for loans and credit services, we can ‘buy now and pay later’.
We are all not rich lah, right...Takkan lah we can afford to pay for everything in cash especially things like a house, car, furniture, higher education, and so much more...So, these loans and credit services do come in handy. But on the dark side…taking too many loans will make us sink in debt. Not only that, we will also have a lot of ‘Along’ chasing us around.
In summary, DON’T EVER make loans or credit services a choice unless it’s very, very essential and keep it to the minimum. It’s best to always settle our loan payments before taking on another.
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This guy is brilliant! That kind of sums it up, doesn’t it? Not only is it applicable, it’s also an efficient way of managing our finances. There are many methods out there suited to different kinds of individuals. Explore the land of financial management so that not only you can achieve your dream of making millions but also profiting more by spending less.
On a side note, check out this episode of
What’s The Feed - To Loan Or Not and see if you’ve switched roles with a moneylender.
